GLOBAL ANTIMONY WRAP: European market stable; Chinese prices fall amid weak sentiment
Antimony prices were stable in Europe in Metal Bulletin’s latest assessment while those in the Chinese market fell again amid negative sentiment.
Metal Bulletin assessed MMT standard grade II antimony in-warehouse Rotterdam prices at $7,700-8,100 per tonne on Friday November 3, unchanged from Wednesday, when prices had remained stable.
Trioxide grade antimony prices in-warehouse Rotterdam were assessed at $7,900-8,200 per tonne, also unchanged from Wednesday and the previous week.
“The downtrend in prices has stopped for now. I think we have reached the bottom already,” an antimony trader said.
“Talks of a meeting of Chinese producers agreeing to push prices higher lifted the sentiment slightly and people are not willing to offer low prices,” a second trader said.
“Prices from China are rising slowly but it’s not affecting prices in Rotterdam yet. People are starting to talk about prices going up soon,” another market participant said.
Meanwhile, Chinese antimony market softened further last week amid ample supply, a lull in demand and pessimism in the market.
Metal Bulletin assessed China’s MMTA standard grade II delivered duty-paid antimony prices at 50,000-50,500 yuan ($7,519-7,594) per tonne on Wednesday November 1, down 1% from a week ago.
“The physical supply is sufficient and shipments via the China-Vietnam border have been running smoothly recently,” a source said.
Two major producers, in Lengshuijiang area of Hunan province, resumed their operations following the environmental inspections in the second quarter of the year and more production is expected in late November or December.
With market sentiment in China lower, buyers are inactive in replacing their stocks.